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An Application of Composite Price Expectations to the Fresh Tomato Market

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  • Lopez, Rigoberto A.
  • Munoz, Arnold O.

Abstract

This paper develops a composite price expectation model which provides ehdogenous weights and testing of alternative expectation hypotheses within the model being estimated. Empirical results for the Northeastern U.S. fresh tomato market indicate that the model is consistent with data and that it generates more accurate ex ante forecasts.

Suggested Citation

  • Lopez, Rigoberto A. & Munoz, Arnold O., 1986. "An Application of Composite Price Expectations to the Fresh Tomato Market," 1986 Annual Meeting, July 27-30, Reno, Nevada 278112, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea86:278112
    DOI: 10.22004/ag.econ.278112
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    File URL: https://ageconsearch.umn.edu/record/278112/files/aaea-1986-073.pdf
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    References listed on IDEAS

    as
    1. Lovell, Michael C, 1986. "Tests of the Rational Expectations Hypothesis," American Economic Review, American Economic Association, vol. 76(1), pages 110-124, March.
    2. Goodwin, Thomas H & Sheffrin, Steven M, 1982. "Testing the Rational Expectations Hypothesis in an Agricultural Market," The Review of Economics and Statistics, MIT Press, vol. 64(4), pages 658-667, November.
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    5. Wallis, Kenneth F, 1980. "Econometric Implications of the Rational Expectations Hypothesis," Econometrica, Econometric Society, vol. 48(1), pages 49-73, January.
    6. Antonovitz, Frances & Roe, Terry, 1986. "A Theoretical and Empirical Approach to the Value of Information in Risky Markets," The Review of Economics and Statistics, MIT Press, vol. 68(1), pages 105-114, February.
    7. Revankar, Nagesh S, 1980. "Testing of the Rational Expectations Hypothesis," Econometrica, Econometric Society, vol. 48(6), pages 1347-1363, September.
    8. Hess, James, 1982. "Risk and the gain from information," Journal of Economic Theory, Elsevier, vol. 27(1), pages 231-238, June.
    9. Durbin, J, 1970. "Testing for Serial Correlation in Least-Squares Regression When Some of the Regressors are Lagged Dependent Variables," Econometrica, Econometric Society, vol. 38(3), pages 410-421, May.
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